Nokia Signs Multi-Year Patent License Pact With Huawei
21 December 2017 - 7:58PM
Dow Jones News
By Dominic Chopping
Nokia Corp. (NOK) has signed a multi-year patent license
agreement with China's Huawei Technologies Co., it said
Thursday.
Details of the deal are confidential but Nokia will disclose its
total patent licensing revenue in its quarterly financial reports,
it said.
Revenue from the agreement will begin to be recognized in the
fourth quarter of 2017, including an element of non-recurring
catchup revenue, with additional revenues expected during the term
of the agreement.
Nokia earned 474 million euros ($562 million) from sales of its
patents and brand licensing in the third quarter of 2017,
representing around 8.6% of total group sales.
Revenue from its licensing business has played an increasingly
important role for Nokia, helping offset sales declines in the
highly competitive networks business.
In its most recent quarterly report, Chief Executive Rajeev Suri
said licensing is a focus for the company as it enjoys excellent
momentum and has considerable opportunities to further develop in
2018 and beyond.
Huawei had a 9.5% share of the global smartphone market in the
third quarter of this year, according to the latest data available
from research firm Gartner. Only Samsung Electronics Co. Ltd.
(005930.SE) and Apple Inc. (APPL) have a higher share.
Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter:
@domchopping @WSJNordics
(END) Dow Jones Newswires
December 21, 2017 03:43 ET (08:43 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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